Altcoins soar, while Bitcoin and Ethereum price stall near key levels
Altcoins moved higher, while a lack of buy volume prevented Bitcoin and Ether price from breaking out after the completion of a bullish inverse head and shoulders pattern. On Wednesday, the bullish momentum that had propelled Bitcoin (BTC) and altcoins into a relief rally was somewhat subdued, as traders remain unsure of what may happen next.
After an early morning attempt by Bitcoin bulls to drive BTC’s price above $40,000 was met with stiff resistance, the digital asset lost momentum and slumped back to the $38,000 support level.
Despite the continued struggle, a few positive signs such as a decline in BTC exchange deposits and an uptrend in addresses accumulating Bitcoin suggest that bears have stopped selling and the worst of the downturn may have passed. Earlier in the day, Ether (ETH) also rallied close to the $3,000 level, but the pullback in BTC price saw the top altcoin fall below $2,800.
Polygon leads the altcoin charge
While a majority of the cryptocurrencies are well below recently established highs, Polygon’s (MATIC) price bucked the trend by seeking out a clear V-shaped recovery. The altcoin rallied higher today as the project announced the launch of its SDK stack that will allow developers to easily deploy their own Ethereum-connected blockchains. Since Tuesday, MATIC has rallied 50% from a low of $1.51 to an intraday high at $2.44 on Wednesday. According to data from Cointelegraph Markets Pro, market conditions for MATIC have been favorable for some time.
The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity. As seen in the chart above, the VORTECS™ Score for MATIC has been in the green zone for most of the past week, and it registered a high of 94 several times on Tuesday, around seven hours before the price increased 50% over the next day.
Other notable altcoin performances include an 89% gain for Skale Network (SKL) and a 67% rally from Enjin Coin (ENJ). Origin Protocol also gained 53%. The overall cryptocurrency market capitalization now stands at $1.7 trillion, and Bitcoin’s dominance rate is 42.5%.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 90% | 4 | $26 421.51 | 0.69% | -2.49% | $515 164 935 262 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 92.4% | 6 | $1 608.55 | 1.03% | -0.96% | $193 404 260 269 |  |
|
| 3 |  USDT |
Tether predictions | 92.8% | 1 | $0.999198 | -0.02% | -0.10% | $83 204 412 876 |  |
|
| 4 |  BNB |
Binance Coin predictions | 90% | 4 | $211.90 | -0.49% | -1.33% | $32 600 305 684 |  |
|
| 5 |  XRP |
XRP predictions | 90.8% | 8 | $0.498359 | -0.81% | -3.59% | $26 568 685 202 |  |
|
| 6 |  USDC |
USD Coin predictions | 96% | 1 | $1.000106 | 0.01% | 0% | $25 484 408 313 |  |
|
| 7 |  STETH |
Lido stETH predictions | 94.4% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 8 |  WTRX |
Wrapped TRON predictions | 87.6% | 20 | $0.084461 | -0.08% | -0.25% | $8 587 616 854 |  |
|
| 9 |  ADA |
Cardano predictions | 88.4% | 8 | $0.244003 | -0.59% | -2.79% | $8 571 470 485 |  |
|
| 10 |  DOGE |
Dogecoin predictions | 92.4% | 6 | $0.060517 | -0.22% | -4.09% | $8 544 211 939 |  |
|
| 11 |  SOL |
Solana predictions | 84.4% | 22 | $19.23 | 1.51% | -4.38% | $7 935 172 917 |  |
|
| 12 |  TON |
Toncoin predictions | 58.8% | 84 | $2.20 | 4.15% | -7.51% | $7 554 266 462 |  |
|
| 13 |  TRX |
TRON predictions | 89.6% | 16 | $0.084721 | -0.43% | 0.02% | $7 548 172 080 |  |
|
| 14 |  DAI |
Dai predictions | 95.6% | 1 | $0.999997 | 0.03% | 0.01% | $5 347 874 970 |  |
|
| 15 |  DOT |
Polkadot predictions | 89.2% | 11 | $3.99 | -0.28% | -3.89% | $4 899 663 129 |  |
